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Nov 1, 2012 8:00pm EDT
to hit katrina by one at funk shot. take, about 30 billion. andrew in 90 to about 36.5 billion. wilma in 2005, i've been 18 billion, charlie indo for 15 billion, reader, frances and jeanne all and hurricane damage. in your view, does the national flood insurance program currently structured work? >> i think it does work. it does help protect consumers from an uninsurable event in the private arcade. the program was created in 1968 was the result created because the private market could not accurately and in suitably underrate the insurance risk. so what was happening was people were completely without flood insurance protection. so is happening in the 60s and 50s as american citizens were being flooded and the only recourse that she had was federal disaster assistance after the fact. so the program was created to have people pay into a program and be prepared for storm and a flood event before it happened. now, it certainly could use improvement. you know, there are critics out there whose fate is is too subsidized by the federal government. there's actually a major law signed
Oct 26, 2012 8:00pm EDT
hurricane katrina. no one would do it. it's nonsensical. there is so little context provided about dodd-frank that you would think it is the product of immaculate conception. there is no antecedent events. it's amazing. that's why when opponents want to talk about growth rate, what was it they started with? 2010. nothing happened before that. it's inexplicable, right clicks so of course, will not often mentioned, the dodd-frank act was passed because of the 2009 financial crisis, which was the worst since the crash of 1929 and it delivered us the worst economy since the great depression of the 30s. how come it's a really mentioned? because the financial industry, lawyers, lobbyists, allies and broader influence industry has purchased has been wildly successful in changing the subject of the debate from the financial crisis, wall street's role in it and the cost to the country to, drumroll, the financial reform of regulations implementing it and the cost to them, the industry. it is truly remarkable how much time is spent talking about the self-serving claims about cost to the industry t
Search Results 0 to 1 of about 2